1041 Norton RdGalloway, OH 43119

Property Details for 1041 Norton Rd

Year built

2002

Lot size

0.75 AC

Property size (Sq ft)

1,749 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

010-218227

APU

10218227

Description

This exceptional investment opportunity presents a fee-simple ownership (land and building) of a Subway restaurant in Galloway, Ohio. The 1,600 square foot, drive-thru equipped QSR is situated on a 0.75-acre lot with 24 parking spaces and benefits from a strong location at a signalized intersection of Norton Road and Hall Road (23,700 vehicles per day), with proximity to I-270 (79,500 VPD). The property boasts a 6.44% cap rate and a strong NOI of $57,978. The current lease, commencing May 1, 2002, and expiring April 30, 2026, has approximately 1.4 years remaining with three 5-year renewal options, each including a 10% rent increase. The lease is a NNN (Net, Net, Net) structure, minimizing landlord responsibilities. The property is zoned C4 (Commercial) and enjoys excellent visibility due to its location near major retailers such as Walmart, Home Depot, and Kroger. The surrounding area features a substantial residential population and a strong employment base, creating a robust consumer demographic. This Subway location offers a compelling combination of a secure, long-term lease, significant upside potential through rent increases, and minimal management requirements, making it an ideal investment for passive income seekers. The asking price is $900,000.

• CAP approach

  CAP return

  Valuation

  6%

  $491,293

  6.5%

  $453,501

  7%

  $421,108

• Comparable approach

  Method

  Valuation

  Relative Method

  $412,276

  Geo Method

  $412,276

• Alternative Use

  Use

  Valuation

  Residential

  $382,545

  Hospitality

  $350,409

  Educational

  $291,536

  Medical

  $301,563

  Retail

  $453,501

Location Insight

City

Galloway

County

Franklin

State

Ohio

Latitude

39.9302

Longitude

-83.1448

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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